Canada’s Cineplex Sues Regal Cinemas Owner Cineworld Over Aborted Acquisition Deal

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Canada’s Cineplex has initiated legal proceedings against Regal Cinemas owner Cineworld Group over its failed acquisition deal. Cineworld moved on June 12

“Cineworld’s actions to prevent the Arrangement from closing in light of the COVID-19 pandemic is nothing

Cineplex claims that Cineworld “breached its contractual obligations and its duty of good faith and honesty in contractual performance.” The Canadian chain highlights that Cineworld, which it claims to be relying upon “alleged adverse impacts of COVID-19,” is not entitled to do so because “contractual agreements between the parties expressly exclude outbreaks of illness, such as the COVID-19 pandemic, as a circumstance entitling Cineworld to terminate the Arrangement.

 

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